Excellent Investment/User opportunity Property. 5-Story, 9 Unit Apartment building. All Units are decontrolled with no leases, which makes the property a prime Condo-Conversion opportunity. Builidng has a 2-bedroom apartment ( 800 sq.ft.) on ground floor; floors 2 through 5 have 8 1-bedroom apartments (each 500 sq.ft.). All units have big bedrooms with large living space, and full kitchens as well as bathrooms. Front and rear units get lots of sunlight and have great northern exposure. Building will be delivered with two vacant apartments.

Given the size of these Units, and the fact they are decontrolled with no leases, a developer can easily start renovating apartments, and start renting them at market value, or turn the building into a prime Condo-Conversion property. For further details about this fine Investment Opportunity, please contact us.

 

The building is located on Henry Street between Clinton and Montgomery on the "Lower East Side," of Manhattan. This area is quickly becoming another "SoHo," attracting many young professionals and artists looking to take advantage of more spacious living quarters at more reasonable rental rates. The area is also attracting developers, buying blocks of multi-building properties and dotting the area with many Hotels that are already in competition with the midtown Hotels in Manhattan.